Iron Mountain (NYSE:IRM) Updates FY24 Earnings Guidance

Iron Mountain (NYSE:IRM - Get Free Report) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.39-4.51 for the period, compared to the consensus estimate of $4.44. The company issued revenue guidance of $6.00-6.15 billion, compared to the consensus revenue estimate of $6.07 billion.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an overweight rating in a research note on Tuesday, March 5th. TheStreet cut Iron Mountain from a b rating to a c rating in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an overweight rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $73.80.

Iron Mountain Trading Down 1.4 %

Iron Mountain stock traded down $1.10 during trading on Thursday, reaching $77.00. The company had a trading volume of 2,790,967 shares, compared to its average volume of 1,429,268. Iron Mountain has a 12-month low of $52.81 and a 12-month high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The stock's 50 day moving average price is $78.03 and its two-hundred day moving average price is $69.72. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 123.92, a PEG ratio of 4.64 and a beta of 0.96.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts expect that Iron Mountain will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.38%. Iron Mountain's dividend payout ratio (DPR) is 412.70%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total value of $1,083,310.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $20,175,156. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $20,175,156. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 115,979 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,124 shares of company stock worth $12,563,361. 2.10% of the stock is currently owned by company insiders.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.